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(Reuters) - Petrobras shares traded in New York plunged nearly 17% in premarket trading on Monday as analysts cut ratings on the stock after far-right Brazilian President Jair Bolsonaro moved to replace the state-controlled oil company’s market friendly CEO with a retired army general. Credit Suisse, Scotiabank, Bank of America, Bradesco and XP analysts were... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras informs that it received a letter from the Ministry of Mines and Energy, requesting measures to convene an Extraordinary General Meeting in order to promote the election and replacement of a Board of Directors member, and to appoint Joaquim Silva e Luna to replace Roberto da Cunha Castello Branco. Additionally,... Continue Reading →
(Reuters) - State-led oil company Petrobras’ board is set to meet on Tuesday as its chief executive faces pressure from Brazilian President Jair Bolsonaro to resign amid a disagreement over fuel price policies, sources told Reuters on Friday. The company’s board will discuss Bolsonaro’s efforts to force out Roberto Castello Branco over his insistence on... Continue Reading →
(Reuters) 3R Petroleum (RRRP3) will present to its shareholders, investors and the market in general the preliminary and unaudited operational data referring to the monthly production of the assets in which the oil company holds interest. Regarding the Macau Cluster, total production in January grew by 3.8%, compared to December, and totaled 4,683 barrels of... Continue Reading →
(Reuters) - The chief executive of Brazil’s state-led oil company Petrobras is resisting pressure from President Jair Bolsonaro to resign following tensions over rising fuel prices, two sources with direct knowledge of the matter told Reuters. Roberto Castello Branco was appointed CEO of Petroleo Brasileiro SA, as the state-controlled firm is known, when Bolsonaro took... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on November 19, 2020, informs the beginning of the binding phase regarding the sale of all of its stakes in a set of 11 onshore production field concessions, with integrated facilities, located in the state of Sergipe, jointly called the Carmópolis Cluster. Potential buyers... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras announces that the rating agency Fitch affirmed the ”BB-“ issuer default ratings for Petrobras, with a negative outlook, reflecting the agency’s opinion on the sovereign’s ratings. Petrobras stand-alone credit profile was also affirmed at "bbb", 4 notches above the sovereign. Fitch highlighted the company's strong capital structure, declining debt levels... Continue Reading →
Marine seismic data acquisition company Shearwater GeoServices has won a contract with Petrobras for deepwater Ocean Bottom Node seismic acquisition for the Tupi and Iracema projects in the Santos Basin offshore Brazil. "This will be the largest OBN seismic survey in Brazil, at the Tupi field, considered Brazil’s first super-giant oil field and is a... Continue Reading →
COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account for more than 60% of the FPSO contracts awarded between 2021 and 2025. These are the... Continue Reading →
Offshore drilling contractor Transocean has secured new contracts and extensions for its rig fleet, bringing the total backlog to $7.8 billion. The rig owner has also decided to retire the Leiv Eiriksson semi-submersible rig. In a fleet status report published last Friday, Transocean said that, as of 12 February, the company’s total backlog was approximately $7.8 billion.... Continue Reading →
Brazil Energy Insight 